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Sharp fall in China's July textile exports to EU
17
Sep '12
The exports of textiles and garments from China to the EU countries fell sharply by 21.4 percent year-on-year to US$ 5.5 billion in July this year.
 
The decline in China’s textiles and apparel exports to the EU nations in July was the second highest drop after February this year.
 
From January to July this year, China’s textiles and garment exports to EU totaled US$ 26.81 billion, showing a decrease of 14.3 percent. Of these, the exports to the original 15 EU nations dropped 15.3 percent year-on-year.
 
The EU accounts for 20 percent of China’s total textile and apparel export market. The fall in Chinese exports to the EU, its largest market, led to a decrease in China’s overall textile and apparel exports during the first seven months of 2012.
 
In fact, the EU economic situation has worsened further in the second half of 2012.
 
According to the European Commission, Europe consumer confidence index was -20.3 in July, compared to the index of -19.7 in the month of June.
 
In the euro area, the consumer confidence index was -21.6, as against index of -19.8 a month earlier.
 

Fibre2fashion News Desk - China

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